Fundación Repsol presents awards to the winners of the third Entrepreneurs Fund contest

16.12.2014
Fundación Repsol Vice-president César Gallo presented the awards to the projects selected in the third Entrepreneurs Fund contest at an event at the Repsol Technology Centre in Móstoles. Eduardo Romero, Director of the Entrepreneurs Fund, also presented awards to the 19 runners-up.
Fundación Repsol presents awards to the winners of the third Entrepreneurs Fund contest
  • Fundación Repsol Vice-president César Gallo chaired the presentation of the projects selected in the third Fundación Repsol Entrepreneurs Fund contest.
  • Fundación Repsol has selected six business projects in the field of energy efficiency and energy which will be provided with an individual financial donation of between €6,000 and €12,000 per month for a maximum period of 24 months.
  • They will also be given training and technological, business and legal advice, as well as work space and the chance to test the prototypes in Repsol’s facilities
  • Apart from the six projects, four proposals in the “Ideas” category have been selected, which will be supported for concept testing so that they can become business projects.
  • The four selected ideas will receive business and technological mentoring and financial support of 2,000 euros per month for one year.
  • Since its creation in 2011, the Fundación Repsol Entrepreneurs Fund has supported 21 business projects and 6 ideas. Seven incubated projects have already been launched onto the market from the first edition of this initiative to support enterprise and company creation .
  • The Entrepreneurs Fund has now begun assessing the projects received in the fourth edition, which closed its submission window on 15 November.

Fundación Repsol Vice-president César Gallo presented the awards to the projects selected in the third Entrepreneurs Fund contest at an event at the Repsol Technology Centre in Móstoles.  Eduardo Romero, Director of the Entrepreneurs Fund, also presented awards to the 19 runners-up.

From the proposals submitted, six innovative energy efficiency business projects have been selected to receive technical and financial support to enable them to develop into functioning concerns. Each of these projects will receive financial support up to a maximum of 288,000 euros during the incubation period, which can last for up to 24 months, as well as technological, business and legal advice.

Four “ideas” pending proof of concept have also been selected to be supported in reaching their technical maturity. They will receive business and technological advice, as well as financial assistance of 2,000 euros per month for one year to help them progress into becoming business projects.

All the selected proposals stand out for their high level of quality and innovation and for their contribution to energy efficiency and the responsible use of energy.

The submission window for the fourth edition closed on 15 November and the assessment and selection process has now begun.

Winning projects

The projects selected for incubation seek to achieve greater energy efficiency in different stages of the energy value chain, from production and generation to distribution and end use. They are:

  • Biogás plus. Increased production of biomethane from organic waste with the addition of iron nanoparticles. Company: Applied Nanoparticules.
  • BioH2. Biohydrogen production from organic waste using a bacterial consortium. Company: Mygen laboratorio.
  • Electricidad Solar 45%. Concentrated photovoltaic modules for high energy efficiency. Company: LPI (Light Prescriptions Innovators Europe).
  • Galoper. Energy generator powered by sea and river currents
  • Hawk. New supplementary safety system for reducing the risk of hydrocarbon leaks in onshore and offshore wells. Company: Raptors Design.
  • Plactherm. High-efficiency underfloor heating with smart control by section. Company: Exploded View.

Ideas selected for maturation

In addition to the six projects previously selected for incubation, the Entrepreneurs Fund jury decided to support six ideas for their technical maturation:

  • DT Bio. Isoprene production by microalgae strains. Company: DTBio (Development and Transference of Biotechnology).
  • Energy Harvesting. Generation of electrical energy from residual heat sources using thermal generating cells with integrated electronic control. Company: AEInnova (Alternative Energy Innovations).
  • Evolgene. Resurrection of ultra-efficient paleoenzymes (resistant to extreme conditions) for the production of biofuels. Company: Evolutions and Genomics Technologies.
  • Sales Solares. Optimisation of saline systems for concentrating solar power plants to increase generating efficiency.

Three years of the Entrepreneurs Fund

Fundación Repsol's Entrepreneurs Fund is Spain's first private fund operating in the field of energy efficiency. It was set up in 2011 to attract talent and help innovative companies to deliver greater sustainability in the search for, production and efficient use of energy.

The Entrepreneurs Fund is pioneering and unique, as in addition to financial support, it guides entrepreneurs during incubation with expert technological mentors and advisers, and provides them with training in a variety of disciplines to help them establish their business projects.

Since its creation in 2011 it has had significant successes: it has established a business ecosystem in the energy field and has incubated 21 projects and 6 ideas; nearly 3 million euros in endowments; the incubated companies have developed 22 patents, have carried out over 20 validation pilot tests and have recorded sales of over 2 million euros.